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On the watch side, there is some nuance here. Rolex stainless steel models are highly desirable, but they really don't appreciate in value. They simply sell o
by blantonl 2y ago
On the watch side, there is some nuance here.
Rolex stainless steel models are highly desirable, but they really don't appreciate in value. They simply sell on the secondary market for a >50% markup because they are still less expensive than a lot of the precious metal versions. So a rolex authorized dealer will typically have a huge ratio of buyers to watches available for steel watches. Precious metal rolexes - it's a big "depends." Any of the platinum watches are highly desirable as well as the meteorite dial watches - they sell well above msrp on the secondary market. Note that rolex authorized dealers are not allowed to mark up new watches at all. The price is the price set by the brand. Most authorized distributors are also jewelers so they allocate steel sport watches to people who buy a lot of jewelry.
Pateks are a different beast. The sport watches are highly desirable, and generally not available to the average buyer under any circumstances unless they have > $100K Patek spend, which means you're going to have to buy what is typically more of an art piece type watch (complication, calatrava, etc) before you'll get a shot at a $20K Patek sport watch. This means you can very easily get a beautiful brand new Patek dress watch for 20% off on the secondary market, since buyers will simply purchase that watch to get the spend history, immediately dump it on the secondary market at a big discount, just so they can get the opportunity to purchase a $20K watch and sell it for a >100% markup. There's no shame for some of these people.
- rayiner 2y ago> There's no shame for some of these people. It sounds like the market just fixing a stupid sales model.
- samatman 2y agoDoesn't look too stupid for Patek Philippe. These shenanigans are why they can charge $20k for a stainless steel automatic watch with a simple date complication, which is only slightly better (at best) than a $300 Seiko.
- OnACoffeeBreak 2y agoWhen I think of "sport" I think of "fitness" watches from Garmin and Apple Watch. Patek sport watch is definitely not that. What is meant by "sport" in case of the Patek sport watch?
- criddell 2y agoSports is really just the traditional name of the category. They are more casual watches. They will have a seconds hand and glow in the dark hands and markers. They will be able to tolerate getting wet (ie no leather).
- vundercind 2y agoIt’s like how Oxford cloth button down shirts or cotton knit polos are sportswear, or a sport coat (it’s in the name!) or how jodhpur boots are “equestrian”, et c. They started that way, but not so much now. Still, that’s the lineage they fall under in certain contexts.
- quickthrowman 2y agoNautilus and Aquanaut are what I think of as Patek ‘sport’ watches.
- havefunbesafe 2y agoI like that Walmart "sells" them https://www.walmart.com/ip/Patek-Philippe-Patek-Philippe-Nautilus-5711-1A-011-with-26-5-Ct-VS-Diamond/186368238?wmlspartner=wlpa&selectedSellerId=4608 https://www.walmart.com/ip/Patek-Philippe-Patek-Philippe-Nau...
- eadmund 2y agoA sport watch is not a dress watch, not a dive watch and not a field watch. It’s typically water-resistant, but not hugely water-resistant (swimming, rather than diving). It typically has a metal bracelet or a tropical rubber strap. A dress watch is thin, almost always with polished rather than brushed surfaces, rarely with a date complication, rarely with lume, sometimes without a second hand, with a leather strap. It’s meant to slide underneath a shirt cuff and be both elegant & discrete. It is probably not water-resistant. It may not have a minute track. A dive watch is meant for scuba diving. It will have one-way bezel marked with minutes for tracking dive time. It will be heavily lumed. It will typically have a metal bracelet. A field watch is based off of a WWI officer’s watch. It should be reasonably water-resistant (weirdly, many are not!). It will always have three hands, and must be hacking (means that the second hand will stop when you set the time, so that it can be set to the exact second). It probably has 13–24 in an inner circle. It definitely has a minute track. A Garmin or Apple Watch is … not really a watch, but is a wearable computer.
- roncesvalles 2y agoAh, the games people play when they have too much money.
- NoLinkToMe 2y agoReally interesting, answered some of the questions I had on watch market economics and seller and buyer incentives. Is there a place where I can learn more (e.g. a youtube channel that explains how all of this works, the roles and incentives for the various parties in the watch market)? Thanks